2013-01-14 00:27:20 - Performance Ratio Benchmarking: Motor 2011 - a new market research report on companiesandmarkets.com
In personal motor insurance, LV= reported the lowest combined operating ratio in 2010, with 100.4%. While still short of breaking even, this outmatched the average market COR by 14.4 percentage points.
While the commission expense ratio improved, it continued to account for the largest share of underwriting expenses, making up 41.6% of the total expense figure. The modest improvement seen can be attributed to a continuing soft commercial motor market.
RSA reported the best expenses ratio by a significant margin, from among the top 10 insurers, in 2010 but also accounted for one of the worst loss ratios. Its expense ratio was 10.8%, in comparison to the market average of 27.1% and an average from the top 5 insurers of 21.9%.
insurance market faced continued pressure from bodily injury claims in 2010 as well as a drive for efficient operating costs. This brief analyzes the performance ratios of the UK private and commercial motor market, at both an industry level and across the top 10 respective insurers. The expense ratio is examined by its component parts: commission, admin and other acquisition expenses.
- Gain insight into the reasons for different cost structures held by insurers.
- Benchmark your performance ratios against those of major competitors.
- Identify which motor insurers became more or less profitable in 2010.
Reasons To Buy
- Which of your market´s top 10 insurers performed best in 2010?
- How has the market as a whole fared on expense and loss ratios in 2010?
- How do your performance ratios compare to the market average and the top 10 insurers?
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